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Hi,
I have a loan which I took out in November 2004. It is for £116k and secured on my home. The agreement gives it no title and refers to no legislation that governs it.
I had assumed it was a personal loan. It has been reviewed every 6 months and the interest rate has gone up plus then additional arrangement fees for each review which has have happened yearly 2005, 6, 7,8,9 and 10.
Would a review in 2008 (?) bring it under the provisions of the CCA changes?
They asked me to sign a review saying it was exempt from the CCA which I didnt sign as I didnt agree with that. I asked lots of questions but recieved no response.
The bank are trying to say it was a business loan and so exempt from legislation but I am not self employed, have never been or intended to be a buy to let investor and there is a memo that says it cant be a buy to let loan it has to be personal. There are no terms relating to it being a business loan in the agreement.
I have a loan which I took out in November 2004. It is for £116k and secured on my home. The agreement gives it no title and refers to no legislation that governs it.
I had assumed it was a personal loan. It has been reviewed every 6 months and the interest rate has gone up plus then additional arrangement fees for each review which has have happened yearly 2005, 6, 7,8,9 and 10.
Would a review in 2008 (?) bring it under the provisions of the CCA changes?
They asked me to sign a review saying it was exempt from the CCA which I didnt sign as I didnt agree with that. I asked lots of questions but recieved no response.
The bank are trying to say it was a business loan and so exempt from legislation but I am not self employed, have never been or intended to be a buy to let investor and there is a memo that says it cant be a buy to let loan it has to be personal. There are no terms relating to it being a business loan in the agreement.
